Nike to cut 1,400 jobs in restructuring

Nike, a maker of sports shoes and apparel, said Thursday it will cut about 1,400 jobs, or 2% of its workforce worldwide, as part of a new strategy to sell products more directly to customers.

The Beaverton, Ore.-based company, which has 70,700 employees worldwide, including retail and part-time employees, also plans to reduce the number of product styles by 25% to focus more on the lines that generate more sales, such as Flyknit shoes.

“This new structure aligns all of our teams toward our ultimate goal—to deliver innovation, at speed, through more direct connections,” said Trevor Edwards, president of the Nike brand unit, which includes the Jordan Brand, Action Sports and Hurley International.

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